Title
Private Developer Funds Appropriation
Action
Action:
A. Approve Developer Agreements with NR Stonewall Property Owner, LLC and Charlotte Latin School for traffic signal installations and improvements, and
B. Adopt a budget ordinance appropriating $85,463 in private developer funds for traffic signal installations and improvements.
Body
Staff Resource(s):
Liz Babson, Transportation
Charles Abel, Transportation
Explanation
§ Private developer agreements and appropriations are needed when a developer is required through the City rezoning process to make traffic signal improvements.
§ Funding contributions from private developers must be appropriated prior to the City’s initiation of work.
§ The $85,463 in private developer funding is for traffic signals, traffic signal modifications and/or upgrades, and other related work associated with the developers’ projects. The funding is restricted to the projects noted below:
- NR Stonewall Property Owner, LLC contributed $80,463 for traffic signal modifications by adding a mast arm at Davidson Street and Stonewall Street (Council District 1).
- Charlotte Latin School contributed $5,000 for relocation of school flashers at Providence Road 200 feet south of Raintree Lane and at Providence Road 300 feet south of Providence Church Road (Council District 7).
§ These developer contributions are based on cost estimates prepared by the Charlotte Department of Transportation (CDOT).
§ Any funding contributed by the developer(s) for a signal project that is unused by the City will be refunded back to the developer(s) after project completion.
§ CDOT will install and operate these signals as part of the existing signal systems in the area.
Fiscal Note
Funding: Private Developer Contribution
Attachments
Attachment(s)
Map
Budget Ordinance